The recent conflict in the Gaza Strip, triggered by an Israeli offensive in response to actions by the extremist group Hamas, which governs Palestine, has the potential to affect the global macroeconomy and potentially ignite a new conflict in the Middle East. This geopolitical instability may have repercussions for the price of Bitcoin (BTC), which was trading at approximately $27,400 (-1.93%) on Monday afternoon.
These insights come from Brazilian cryptocurrency specialist Diego Consimo, who has taken note of the current market charts, with the caveat that changes may occur due to the ongoing conflict.
According to the founder of Crypto Investidor, this is a pivotal moment for Bitcoin, as it needs to surpass the $28,500 threshold to confirm a reversal in its trajectory.
